FG owes five IOCs $1.15bn cash call arrears, clears $3.53bn debt

A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears repayment to the IOCs, leaving an outstanding balance of $1.15bn. Latest status report on the Pre-2016 Cash Call Arrears Repayment to the IOCs as at October 31, 2021, seen in Abuja on Sunday, showed that…

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